MUTTENZ -- Clariant, one of the world leaders in specialty chemicals, recently announced the closing of the sale of its Textile Chemicals, Paper Specialties and Emulsions businesses to SK Capital. Starting 1 October 2013, the three former Clariant businesses are now operating under the name Archroma. After some adjustments for working capital and for the lower operational performance of some parts of the businesses, the total purchase price consideration of the transaction will amount to approximately CHF 425 million, mainly consisting of a cash inflow of CHF 355 million and the transfer of pensions and other liabilities. Worldwide, 2'900 employees will transfer to Archroma.

"The successful closing of the transaction is the next step in repositioning Clariant's portfolio towards higher growth, higher profitability businesses", said CEO Hariolf Kottmann. "Today, I would like to express my appreciation and thanks to all employees of the three businesses for their work. We wish them all the best and success in the new company."

About Clariant

Clariant is an internationally active specialty chemical company, based in Muttenz near Basel. The group owns over 100 companies worldwide and employed 22 149 employees on December 31, 2011. In the financial year 2011, Clariant recorded a turnover of around CHF 7.4 billion. Clariant is divided into eleven business units: Additives; Catalysis & Energy; Emulsions, Detergents & Intermediates; Functional Materials; Industrial & Consumer Specialties; Leather Services; Master batches; Oil & Mining Services; Paper Specialties; Pigments; Textile Chemicals. Clariant focuses on creating value by investing in future profitable and sustainable growth, which is based on four strategic pillars: Improving profitability, innovation as well as research and development, dynamic growth in emerging markets, and optimizing the portfolio through complementary acquisitions or divestments.